Balanced Fund
Inception Date: August 10, 1971
Type of Fund: Balanced
Symbol: PAXWX
CUSIP: 704223106
Minimum Investment: $1000
Sales Charge: None, 12b-1: 0.25%
Expense Ratio
(05/01/2014):
Net of FeesMore info 0.91%
Gross of Fees More info
Net of Fees

The net expense ratio is the expense ratio of the fund after applicable expense waivers or reimbursements. This is the actual expense ratio that investors paid during the fund’s most recent fiscal year.

Total annual Balanced Fund operating expenses, gross of any fee waivers or reimbursements are 0.91% for the Individual Investor Class, 0.66% for the Institutional Class and 1.16% for the Class R as of 05/01/2014 prospectus.

Gross of Fees

Gross Expense Ratio represents the total gross expenses (net expenses with waivers added back in) divided by the fund's average net assets. If it is not equal to the net expense ratio, the gross expense ratio portrays the fund's expenses had the fund not waived a portion, or all, of its fees.

0.91%
Inception Date: April 2, 2007
Type of Fund: Balanced
Symbol: PAXIX
CUSIP: 704223205
Minimum Investment: $250,000
Sales Charge: None, 12b-1: 0.00%
Expense Ratio
(05/01/2014):
Net of FeesMore info 0.66%
Gross of Fees More info 0.66%
Inception Date: April 2, 2007
Type of Fund: Balanced
Symbol: PAXRX
CUSIP: 704223304
Minimum Investment: No Minimum
Sales Charge: None, 12b-1: 0.50%
Expense Ratio
(05/01/2014):
Net of FeesMore info 1.16%
Gross of Fees More info 1.16%

The Fund seeks income and conservation of principal and, secondarily, long-term growth of capital by investing in a portfolio of stocks and bonds whose weightings vary depending on market conditions.

Percentage of rolling time periods since inception
the Fund has generated positive returns for investors
as of 03/31/2013

The Pax World Balanced Fund has produced positive returns for 98% of the 5-year rolling periods and 100% of the 10-, 15- and 20-year rolling periods since inception* (08/10/1971). The rolling returns were calculated using Factset. A rolling-return is a continuous return based on a specific time period. All rolling returns used were for the Pax World Balanced Fund - Individual Investor Class (PAXWX), which has an inception date of 08/10/1971.*

Past performance not indicative of future results.

Strategy:

Manager Biographies

Chris Brown is Chief Investment Strategist for Pax World Funds as well as Portfolio Manager for the Pax World Balanced Fund. He has been with Pax World Management LLC since 1998, when he joined the company as Co-Portfolio Manager of the Pax World Balanced Fund. He has served as a manager on the fund since October 2001 and served as Co-Portfolio Manager for the Pax World Growth Fund from 2006 until May 2011.

Prior to joining Pax World, Mr. Brown was a Senior Manager at Fahnestock and Co., Inc., a New York Stock Exchange brokerage firm, from 1987 to 1998, and First Vice President from 1994 and 1998. Mr. Brown also was a Senior Vice President of H.G. Wellington and Co., Inc., from April 1998 to July 2006, where he served as an adviser on separately managed accounts. He is a graduate of the Boston University School of Management with a concentration in finance.

Anthony Trzcinka, CFA, is Portfolio Manager of the Pax World Growth Fund. He is also a member of the portfolio management team of the Pax World Balanced Fund.

Mr. Trzcinka joined Pax World in 2003. He began his career in financial services in 1999. Prior to joining Pax World, he spent over three years at AEW Capital Management as an Assistant Vice President. He holds a Master of Business Administration from Northeastern University and a Bachelor of Arts from the University of Massachusetts. Mr. Trzcinka is a CFA charterholder and member of the Boston Security Analysts Society.

CFA® is a trademark owned by the CFA Institute.

 

*Average annual returns for the Individual Investor Class for period ending 12/31/13. Figures include reinvested dividends, capital gains distributions, and changes in principal value. The returns were: 1 year: 16.34%, 5 year: 11.52%, 10 year: 5.64%, Since Inception (08/10/1971): 8.54%.

Total annual Balanced Fund operating expenses, gross of any fee waivers or reimbursements are 0.91% for the Individual Investor Class, 0.66% for the Institutional Class and 1.16% for the Class R as of 05/01/2014 prospectus.

Since its inception, the Pax World Balanced Fund has experienced periods of negative returns.

Performance data quoted represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. See the fund's performance tab for most recent month-end performance information.